Multiple Choice
The long-run industry supply curve ________ in a decreasing-cost industry.
A) slopes up
B) slopes down
C) is horizontal
D) is vertical
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q307: For a perfectly competitive industry, diminishing marginal
Q308: If revenue is less than _, profit
Q309: When firms earn below normal rates of
Q310: Refer to the information provided in Figure
Q311: In the long run firms will _
Q313: You are hired as an economic consultant
Q314: Refer to Scenario 9.7 below to answer
Q315: On the downward sloping portion of a
Q316: On the upward sloping portion of a
Q317: If TR < TVC, a firm would